Adani Enterprises’ (AEL) joint venture (JV) -- AdaniConnex (ACX) has signed a Memorandum of Understanding (MoU) with Adani Power (APL) to acquire 100% equity shares of APL’s wholly owned subsidiary namely, Support Properties. The object of acquisition is to set up infrastructure facilities. The transaction is expected to complete by end of January, 2023. The acquisition will be done at an Enterprise Valuation of Rs 1,556.50 crore subject to adjustments on the closing date.
Adani Enterprises (AEL) is the flagship company of Adani Group, one of India’s largest business organisations.
